JONATHAN B. WIGHT is Associate Professor of Economics and International Studies in the Robins School of Business, University of Richmond, where he has won Outstanding Teaching and Outstanding Service Awards.
Born in Washington, D.C., he spent his youth in Africa and Latin America. He earned a B.A. from Duke University and a Ph.D. in economics at Vanderbilt University, where he was a Danforth Fellow. His paper, "A Little Adam Smith is a Dangerous Thing," received the 2001 Paxton Award for Outstanding Paper presented by the International Association of Torch Clubs. Other articles on Smith include, "Will the Real Adam Smith Please Stand Up? Teaching Social Economics in the Principles Course," and "The Rise of Adam Smith: Articles and Citations, 1970-97." In other research he co-authored a book on health care financing and numerous articles on international economic development.
Editorial Advisor: Russell Roberts, author of The Choice and The Invisible Heart
A love story that embraces the business and economic issues of the day?
The Invisible Heart takes a provocative look at business, economics, and regulation through the eyes of Sam Gordon and Laura Silver, teachers at the exclusive Edwards School in Washington, D.C. Sam lives and breathes capitalism. He thinks that most government regulation is unnecessary or even harmful. He believes that success in business is a virtue. He believes that our humanity flourishes under economic freedom. Laura prefers Wordsworth to the Wall Street Journal. Where Sam sees victors, she sees victims. She wants the government to protect consumers and workers from the excesses of Sam's beloved marketplace.
While Sam and Laura argue about how to make the world a better place, a parallel story unfolds across town. Erica Baldwin, the crusading head of a government watchdog agency, tries to bring Charles Krauss, a ruthless CEO, to justice. How are these two dramas connected? Why is Sam under threat of dismissal? Will Erica Baldwin find the evidence she needs? Can Laura love a man with an Adam Smith poster on his wall? The answers in The Invisible Heart give the reader a richer appreciation for how business and the marketplace transform our lives.
These may not sound like typical questions for an economist to ask. But Steven D. Levitt is not a typical economist. He is a much-heralded scholar who studies the riddles of everyday life—from cheating and crime to sports and child-rearing—and whose conclusions turn conventional wisdom on its head.
Freakonomics is a groundbreaking collaboration between Levitt and Stephen J. Dubner, an award-winning author and journalist. They usually begin with a mountain of data and a simple question. Some of these questions concern life-and-death issues; others have an admittedly freakish quality. Thus the new field of study contained in this book: Freakonomics.
Through forceful storytelling and wry insight, Levitt and Dubner show that economics is, at root, the study of incentives—how people get what they want, or need, especially when other people want or need the same thing. In Freakonomics, they explore the hidden side of . . . well, everything. The inner workings of a crack gang. The truth about real-estate agents. The myths of campaign finance. The telltale marks of a cheating schoolteacher. The secrets of the Ku Klux Klan.
What unites all these stories is a belief that the modern world, despite a great deal of complexity and downright deceit, is not impenetrable, is not unknowable, and—if the right questions are asked—is even more intriguing than we think. All it takes is a new way of looking.
Freakonomics establishes this unconventional premise: If morality represents how we would like the world to work, then economics represents how it actually does work. It is true that readers of this book will be armed with enough riddles and stories to last a thousand cocktail parties. But Freakonomics can provide more than that. It will literally redefine the way we view the modern world.
Bonus material added to the revised and expanded 2006 editionThe original New York Times Magazine article about Steven D. Levitt by Stephen J. Dubner, which led to the creation of this book.Seven “Freakonomics” columns written for the New York Times Magazine, published between August 2005 and April 2006.Selected entries from the Freakonomics blog, posted between April 2005 and May 2006 at http://www.freakonomics.com/blog/.
Now, with Think Like a Freak, Steven D. Levitt and Stephen J. Dubner have written their most revolutionary book yet. With their trademark blend of captivating storytelling and unconventional analysis, they take us inside their thought process and teach us all to think a bit more productively, more creatively, more rationally—to think, that is, like a Freak.
Levitt and Dubner offer a blueprint for an entirely new way to solve problems, whether your interest lies in minor lifehacks or major global reforms. As always, no topic is off-limits. They range from business to philanthropy to sports to politics, all with the goal of retraining your brain. Along the way, you’ll learn the secrets of a Japanese hot-dog-eating champion, the reason an Australian doctor swallowed a batch of dangerous bacteria, and why Nigerian e-mail scammers make a point of saying they’re from Nigeria.
Some of the steps toward thinking like a Freak:First, put away your moral compass—because it’s hard to see a problem clearly if you’ve already decided what to do about it. Learn to say “I don’t know”—for until you can admit what you don’t yet know, it’s virtually impossible to learn what you need to. Think like a child—because you’ll come up with better ideas and ask better questions. Take a master class in incentives—because for better or worse, incentives rule our world. Learn to persuade people who don’t want to be persuaded—because being right is rarely enough to carry the day. Learn to appreciate the upside of quitting—because you can’t solve tomorrow’s problem if you aren’t willing to abandon today’s dud.
Levitt and Dubner plainly see the world like no one else. Now you can too. Never before have such iconoclastic thinkers been so revealing—and so much fun to read.